Weaker profitability expected in quarters ahead

Loss of market share and the lack of visibility concerning post-pandemic demand-supply dynamics are also weighing on glove stocks on Bursa Malaysia, including Hartalega.

PETALING JAYA: Hartalega Holdings Bhd’s earnings in the first quarter (Q1) of financial year 2022 (FY22) triumphed analysts’ expectations on the back of higher sales volume and average selling prices (ASPs).

However, with ASPs trending downwards following encouraging global vaccination rates, the glove maker may post weaker results in the remaining quarters, even after factoring in Delta variant-driven demand.